Forex crosses technical analysis 1/04/2017

/ Blog / By Alex

Forex crosses technical analysis EURJPY, NZDJPY, AUDJPY, USDSEK, USDNOK, GBPAUD, GBPNZD

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EURJPY

EURJPY is in consolidation triangle. The pair need to break 124 level for the continuation higher. Staying side for now.

NZDJPY

The upside is supported by an uptrend line and 80-81 zone. As long as this zone holds we could see a retest of 83.740 upside resistance. Deeper correction lower is possible only on a downside break below 79.900.

AUDJPY

The pair is bouncing from bullish support zone 83-84. This bounce is opening the prospects for 87.600 retest and extension to higher levels.

USDSEK

The pair is retracing recent swing high and is reaching strong support 9.1000-9.1200. Watch the price action here for new entries within a trend and it is long term uptrend. The pair need a break above 9.2200 level for uptrend continuation.

USDNOK

USDNOK is going for a retest of broken last week highs 8.6400. Look for chances to join an uptrend in 8.5500-8.6000 zone if reached or on a clear break of 8.7300. Consolidation after a bounce from ideal support 8.5500-8.6000 zone.

GBPAUD

The pair is in a consolidation box above 1.6800. For direction we need to see reaction higher from this levels and a break above 1.7200 level. Sl on longs initiated here should be below 1.6700.

GBPNZD

GBPNZD is in a consolidation triangle. Break above 1.7800 is needed for upside continuation. Break below 1.7600 could lead to downside continuation.

Crosses are simply a measure of the relative strength of an individual currency against the dollar. Crosses are distinguished by the fact that they do not include the dollar as either the numerator or the denominator of the pair. As such, they offer traders a tremendous opportunity to make far more nuanced bets in the currency market than the simple pro- or anti-dollar trade.

What makes crosses especially interesting to currency traders is the fact that they can provide much cleaner trend or range signals which will be unaffected by the day-to-day oscillations of the greenback.

Technical analysis is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of this site.